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Nortel-Avici: A New Opportunity
By Mark Evans | April 22, 2006
Nortel's partnership (and small equity stake) with Avici hasn't worked out that well in recent years as both companies have badly struggled. But maybe there's some hope for the marriage after Avici posted better-than-expected first-quarter results and raised its revenue guidance 2006 by 50%. A big chunk of Avici's success - $21.1-million in revenue - came from AT&T, which accounted for 75% of overall sales. The core IP's router improved prospects come four months after it eliminated 45% of its 300 full-time and contract staff positions, or 135 jobs, to reduce its annual costs by $20 million, the firm announced this morning. For more, check out Light Reading.
Topics: M&A |